MorphoSys ( NASDAQ: MOR ) on Friday said that it had formally notified the Nasdaq of its intention to voluntarily delist its American Depositary Shares. The company expects that the last trading day on Nasdaq will be on or about August 2, 2024. Following the delisting, any trading in MorphoSys’ ADSs would occur only in privately negotiated sales and potentially on an over-the-counter market if a broker makes a market in the ADSs.
In addition, Novartis has informed MorphoSys of its intention to merge MorphoSys into Novartis. Press release. More on MorphoSys MorphoSys: Novartis Deal Is All But Done MorphoSys: Hold Rating Until The Novartis Deal Closes Novartis intends to implement merger squeeze-out of MorphoSys minority shareholders MorphoSys gains after Novartis discloses all tender offer conditions were met Seeking Alpha’s Quant Rating on MorphoSys.